$6,056 Closing Credit*
$510,000
2,391 SqFt
4 Beds
•3 Full Baths, 1 Partial
Mick I Khzouz, Listing Office: Clients First, REALTORS®
Is 48188, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, 48188 has remained a Seller's Market.
Key Takeaway
48188 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48188, MI
How much do homes in 48188, MI cost?
Median Sold Price
$385,305
$205/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$244(-0.1%)
Key Takeaway
The sold price of homes in 48188 has remained the same since last year.
Summary: The median home sold price in 48188 was $385,305 in October 2024, down 0.1% from last year, and the median price per square foot was $205.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $95.5K | $121.2K | +27.0% |
| 2 Bedrooms | $258.5K | $258K | -0.2% |
| 3 Bedrooms | $370K | $383.5K | +3.7% |
| 4 Bedrooms | $490K | $513.7K | +4.8% |
| 5+ Bedrooms | $607.5K | $682.2K | +12.3% |
Summary: 48188 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 27%, 2 bedroom homes decreased by 0.2%, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 12.3%.
Housing Supply in 48188, MI
How many homes are available in 48188, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 148 | 152 | +2.7% |
Summary: The 48188 real estate market had 152 homes for sale in October 2024, a 2.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 4 | +33.3% |
| 2 Bedrooms | 40 | 40 | 0.0% |
| 3 Bedrooms | 50 | 50 | 0.0% |
| 4 Bedrooms | 51 | 51 | 0.0% |
| 5+ Bedrooms | 4 | 7 | +75.0% |
Summary: The 48188 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 75%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 49 | 37 | -24.5% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48188, you could pay more than the asking price. 51.4% of homes here sold above asking price last month.
Summary: A total of 37 homes were sold or pending in 48188 in October 2024, down by 24.5% month-over-month. Of the 37 sold homes, 27% were sold under asking, 22% were sold at asking, and 51% were sold over asking.
Days on Market for 48188, MI
How long does it take to sell a home in 48188, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 22 Days | 21 Days | -3.0% |
Summary: Homes in 48188 had an average of 21 days on market in Oct 2024, down by 3% compared to last year.
Breakdown of Home Sale Times
29 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 48188 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 37 homes were sold in 48188; 78% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.